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<br />UNIFORM CovertnHis. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Principal and Interest, Borrower shall promptly= pay when due the principal of and interest on the
<br />indebtedness evidenced by [he No[e, prepayment and late charges as provided in the Note, and the principal of and interest
<br />on any Future Advances secured by this Mortgage.
<br />2. Fonds for Taxes and Insurence. Subject to applicable law or ro a written waiver by Lender, Borrower shall pay
<br />to Ysnder on the day monthly installments of principal and interest are payable under the Note, until the Note is paid in full,
<br />a sttm (herein "Funds") equal to one-twelfth of the yearly taxes and assessments which may attain priority over this
<br />Mortgage, and ground rents on the Property, if any, plus one-twelfth of yearly premium instalments for hazard insurance,
<br />plus om-twelfth of yearly premium installments for mortgage insurance, if any, all as reasonably estimated initially and fmm
<br />time to time by Lender on [he basis of assessments and bills and reasonable estimates thereof.
<br />The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a Fed. ral or
<br />state agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pav said taxes, assessments,
<br />insurance premiums and ground rents. Lender may not charge for so holding and applying the Funds, analyzing said account,
<br />or verifying and compiling said assessments and bills, unless Lender pay's Borrower interest on the Funds and applicable law
<br />permits Lender to make such a charge. Borrower and Lender may agree in writing at the time of execution of this
<br />Mortgage that interest on the Funds shall he paid to Borrower, and unless such agreement is made or applicable law
<br />requires such interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender
<br />shall give to Borrower, without charge, an annual accottn[ing of the Funds showing credits and debits to the Funds and the
<br />purpose for which each debit to the :ands was made. The Funds are pledged as additional security for the sums secured
<br />by this Mortgage.
<br />If the amount of [he Funds held by Lender, together with the future monthly installments of Funds payable prior to
<br />the due dates of taxes, assessments, insurance premiums and ground rents, shall exceed the amount required to pay said taxes,
<br />assessments, insurance premiums and ground rents as they fall due, such excess shall be, at Borrower's option, either
<br />promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. If the amount of the Funds
<br />held by Lender shall no[ be sufficient to pay taxes, assessments, insurance premiums and ground rents as they fall dot,
<br />Borrower shall pay to Lender any amount necessary to make up the deficiency within 30 days from the date notice is mailed
<br />by Lender to Borrower requesting payment thereof.
<br />Upon payment in full of all sums secured by thts Mortgage. Lender shall promptly refund to Borrower any Funds
<br />held by Lender. If under pazagraph 18 hereof the Property is sold car the Property is otherwise acgwred by Lender, Lender
<br />shall apply, no later than immediately prior to the sale of the Property car its acquisition by Lender, any Funds held by
<br />Lender at the time of application as a credit against the sums secured by this Mortgage.
<br />3. Application of Payments. Unless applicable law provides otherwise, all payments received by I-ender under the
<br />Note and paragraphs t and 2 hereof shalt be applied by 1_ender first in payment of amounts payable to Lender by Borrower
<br />under pazagraph 2 hereof, then to interest pa}'able on the Note, then to the principal of the Note, and then to ir.[erest and
<br />principal on any Future Advances.
<br />4. Charges; Liens. Borrower shall par' all razes, assessments and other charges. fines and Impositions attnbutable to
<br />the Property which may attain a pnority over this Mortgage. and leasehold payments or ground rents, if any, in the manner
<br />provided under paragraph 2 hereof or, if not paid :n such manner. by Borrower making payment. when due, directly to the
<br />payce thereof. Borrower shall promptly furntsh to Lender all notices of amounts due under this paragraph, and in the event
<br />Borrower shall make payment directly. Borrower shall promptly furnrsh to Lender receipts evidencing such payments.
<br />Borrower shall promptly discharge any hen which has prority over this Mortgage: Provided. that Borrower shall not be
<br />required [o discharge any such lien so long as Borrower shall agree in wrung to the paymem cat the obligation secured by
<br />such lien in a manner acceptable [o Lender, or shall in good faith contest such lien h}'. or defer) enforcement of such lien in,
<br />legal proceedings which operate to prevent the enforcement of the hen .+r rortetture of the Property or any part thereof.
<br />5. Hazard lasurance. Bortower shall keep the improvements nuu~ existing or hereafter erected on the Property insured
<br />against loss by fire, hazards included within the term °extendeJ coverage. anJ such other hazards as Lender may require
<br />and in such amounts and for such periods as Linder may require; prucided. [hat Lender shall nut require that the amount of
<br />such coverage exceed that amount of ;overage reywred to pay the sums ,ecttred by this Mortgage.
<br />The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender, provided,
<br />that such approval shall not be unreasonably withheld. All premiums on insurance policies shall he paid m the manner
<br />provided under paragraph 2 hereof or, if no[ paid in such manner, by Borrower making payment, when due, Directly to the
<br />insurance carrier.
<br />.411 insurance policies anJ renewals thereof shall be in form acceptable to 1_ender and shall include a standard mortgage
<br />clause in favor of and in form acceptable to Lender. Leader shall have the right to held the policies a::D renewals thereof,
<br />and Borrower shall promptly furnish to Lender all renewal notices anJ all receipts of paid premium. In the event of loss,
<br />Borrower shall give nrnrltpt notice to the insurance carrier and Lender. Lender trap make prowl of loss rt nut made promptly
<br />by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, inuurance proceeds shall be applied to restoration or repair of
<br />the Property damaged, provided such restoratiat or repair is economically feastble and the security of this Mortgage is
<br />no[ thereby impaired. If such restoration or repair is no[ economiea0p feastble or if the secant} of this Mortgage would
<br />be impaired, the insurance proceeds shall be applieJ ro the sums secure) b} thu Mortgage, wrth the excess, if any, paid
<br />to Borrower. If the Property is abandoned by Borrower. or ~t Bonnwer faD> to re>ponJ m Lender within 30 days from the
<br />date notice is mailed by Lender to Borrower that the insurance carrier offers to >euk a claim for insurance benefits, Lender
<br />is authorized to collect and apply the insurance prxeeds at Lender's option either to restoration or repair of the Property
<br />or to the sums secured by this Mortgage.
<br />Unless Lender and Borrower otherwise agree m canting, any such application of proceeds ro principal shall not extend
<br />or postpone the due date of the monthly installments referred to in paragraphs 1 :md hereof or change the amount of
<br />such iostaiiments. If under paragraph 18 hereof [he Pruperry a acquire) by Lender. ail tight, tole and imerest of Borrower
<br />in and to any insurance policies and in and m the proceeds thereof resulting ',rom Damage to the Property prior to the sale
<br />or acquisition shall pass to Lender to the extent of. the sums secured b} this Mortgage immediately pnor tu,suLh sale or
<br />acquisition.
<br />6. Preaervatfoa earl klaintenance of Property, Leaseholds; Condominiums; Ylamted Unit IJevelopmenls. Borrower
<br />shall keep the Property in good repair and shall not commit waste or permit ~mpairmeot car Deterioration of the Property
<br />and shall comply with the provisions of any' lease if th+s Mortgage rs on a Iea>ehold. If this Mortgage is on a unit in a
<br />condominium ar a planned unrt development, Borrow-er shall pcrtcrm all of Borrower-s ohl+gauons under the declaration
<br />or covenants creating or governing the cundommium car planned trait Jevclopntera, the by-taws and regulations uC the
<br />condominium or planned unit development, and constiutent dtxuments. It a cundominiun; car planned unit development
<br />cider is executed by Borrower and recorded together wnh this 'vlorlgagc, the ~u>~enunts anJ agruzmcnts cat such rider
<br />shall be incorporated into and shall amend anJ supplement the covenants anD agreements of thi> ~4ortgage as it the rider
<br />were a part hereof.
<br />7. Protection of Lender's Secttriry. If &:rrower (ails to perform the covenants anJ agreements coinained in this
<br />Mortgage, or if army action car proceeding is :;ommenceD which materially affects L.euder's nAerezt in the Prop<•.ny.
<br />including, but not limited to, eminent domain, insolvency, code enfurcemen:, or arrangements or proceedings utro~olemg a
<br />bankrupt or decedent, then Leader at L.cuder's option, apart entice to Borrower. map make such ap{xaranccs. Jrchursc such
<br />sums and take such nctiun as is necessary cat protect Lender's interest, ~ncluding. but nut limrtc.i tu. Dubursemcnt ~~f
<br />reasonable attorneys fees and crtry upon the Property to make repairs !t Lender regvireD mut[gage insurance a.
<br />canduion of making; the Loan secured by this Marigage. Borrower shall par the prcmturn> +eyu:reD to mstmain swell
<br />iruurance in effect until such time as the reyutrerneui fur such ~nsurar..c ±crv.utatcx cat aceurdance wuh Burr+wcr's :mJ
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